The document provides an overview and highlights of angel investment trends for Q3 2013 as reported by the Halo Report. Key findings include:
- Median angel round size was $770k, trending up to $2M when angels co-invest with others.
- Healthcare round sizes jumped over 2012 levels.
- The Great Lakes region saw the largest increase in deal share while New England retained the largest share of dollars.
- Mobile/telecom and healthcare captured larger shares of deals and dollars.
- The top 10 most active angel groups and their total deals are listed.
The Angel Resource Institute, Silicon Valley Bank and CB Insights set out to raise awareness of early stage investment activities by angel investment groups. The Halo Report is the result and this presentation is the Q1 2013 update. The research series highlights angel investment activity and trends in North America and provides much sought after data that has not been previously available to entrepreneurs or early stage investors.
The Halo Report includes aggregate analysis of investment activity by angels and angel groups and highlights trends in round sizes, location and industry preferences. The data is collected via survey and aggregation of public data using CB Insights innovative data analyses.
The Halo Report is a nationwide survey of Angel Groups' investment activity produced by the Angel Resource Institute and Silicon Valley Bank with data from CB Insights. The Halo Report 2012 Year in Review shows angel investing for the year was stable with prior years. Pre money valuations for early-stage companies remained steady at $2.5M and round sizes were relatively consistent. The sectors and geographies getting funding are shifting, however, most notably with mobile and telecom companies gaining share of angel investment deals and dollars, while healthcare companies are losing share of angel investments. Companies in the Northwest and the Southwest US are gaining ground on the number of deals and total investments they receive over companies in California and New England.
The Angel Resource Institute (ARI), Silicon Valley Bank (SVB) and CB Insights released the Q2 2014 Halo Report today, a national survey of angel group investment activity. The report finds median pre-money valuations continuing to climb for the third consecutive quarter reaching $3 million in Q2 2014. Round sizes dropped approximately 40 percent to $600K over the prior quarter when angel groups invested alone, but rose nearly 20 percent to $2 million when angels co-invested with other types of investors.
The Halo Report is a nationwide survey of Angel Groups' investment activity produced by the Angel Resource Institute, Silicon Valley Bank and CB Insights. The Q1 2014 Halo Report finds median round sizes increased to $980K per deal, and pre-money valuations rose to $2.7 million in the quarter. Investments in Internet-related companies jumped significantly, while dollars invested in mobile and healthcare companies dropped.
The Halo Report is a nationwide survey of Angel Groups' investment activity produced by the Angel Resource Institute, Silicon Valley Bank and CB Insights. The Q3 2013 Halo Report finds median round sizes down to $520K per deal, healthcare round sizes up and a larger share of deals and investment dollars going to mobile companies. Together Internet, healthcare and mobile companies received 81% of dollars invested by angel groups in Q3.
The Angel Resource Institute, Silicon Valley Bank and CB Insights set out to raise awareness of early stage investment activities by angel investment groups. The Halo Report is the result and this presentation is the Q1 2013 update. The research series highlights angel investment activity and trends in North America and provides much sought after data that has not been previously available to entrepreneurs or early stage investors.
The Halo Report includes aggregate analysis of investment activity by angels and angel groups and highlights trends in round sizes, location and industry preferences. The data is collected via survey and aggregation of public data using CB Insights innovative data analyses.
The Halo Report is a nationwide survey of Angel Groups' investment activity produced by the Angel Resource Institute and Silicon Valley Bank with data from CB Insights. The Halo Report 2012 Year in Review shows angel investing for the year was stable with prior years. Pre money valuations for early-stage companies remained steady at $2.5M and round sizes were relatively consistent. The sectors and geographies getting funding are shifting, however, most notably with mobile and telecom companies gaining share of angel investment deals and dollars, while healthcare companies are losing share of angel investments. Companies in the Northwest and the Southwest US are gaining ground on the number of deals and total investments they receive over companies in California and New England.
The Angel Resource Institute (ARI), Silicon Valley Bank (SVB) and CB Insights released the Q2 2014 Halo Report today, a national survey of angel group investment activity. The report finds median pre-money valuations continuing to climb for the third consecutive quarter reaching $3 million in Q2 2014. Round sizes dropped approximately 40 percent to $600K over the prior quarter when angel groups invested alone, but rose nearly 20 percent to $2 million when angels co-invested with other types of investors.
The Halo Report is a nationwide survey of Angel Groups' investment activity produced by the Angel Resource Institute, Silicon Valley Bank and CB Insights. The Q1 2014 Halo Report finds median round sizes increased to $980K per deal, and pre-money valuations rose to $2.7 million in the quarter. Investments in Internet-related companies jumped significantly, while dollars invested in mobile and healthcare companies dropped.
The Halo Report is a nationwide survey of Angel Groups' investment activity produced by the Angel Resource Institute, Silicon Valley Bank and CB Insights. The Q3 2013 Halo Report finds median round sizes down to $520K per deal, healthcare round sizes up and a larger share of deals and investment dollars going to mobile companies. Together Internet, healthcare and mobile companies received 81% of dollars invested by angel groups in Q3.
The Halo Report is a nationwide survey of Angel Groups' investment activity produced by the Angel Resource Institute, Silicon Valley Bank and CB Insights. The Q1 2013 Halo Report shows angel investment round sizes are trending up to a median of $680K per deal, pre-money valuations remain stable at $2.5 million and most angel investment happens in angel groups’ home states. US angel investment continues to be dispersed nationwide, and in the first quarter entrepreneurs in the Southwest region of the country received a slightly larger share of angel investment than startups in California, for the first time. The sectors getting funding remain concentrated in Internet, healthcare and mobile, with 72% of completed Q1 deals in these categories.
The 2013 Halo Report finds angel investment activity on the rise with more high-valuation deals closed in 2013 than in 2012. While median round sizes held steady at $600K per deal, they were at a three year high when angels co-invested with non-angels. The share of angel investment in Internet, healthcare and mobile startups continued to increase. Golden Seeds, Tech Coast Angels, and Houston Angel Network, which is new to the list, were the three most active angel groups in 2013. With a continued progression toward more even distribution of investments nationally, entrepreneurs throughout the country are likely to find it easier to access angel investors for critical early stage funding. The Halo Report, put together by the Angel Resource Institute, Silicon Valley Bank and CB Insights, includes aggregate analysis of investment activity by angel investors and angel investment groups, highlighting trends in round sizes, pre-money valuations, and industry investment preferences.
The Halo Report is a nationwide survey of Angel Groups' investment activity produced by the Angel Resource Institute, Silicon Valley Bank and CB Insights. The Q2 2013 Halo Report shows angel investment round sizes dipped up to a median of $590K per deal, pre-money valuations remain stable at $2.5 million and 74% of angel group deals are syndicated. When angel groups co-invest with other types of investors, the media round size goes up to $1.95M. US angel investment continues to be dispersed nationwide. For the first time, the report separates Texas, which has 11% of angel group deals in Q2, behind California, New England and the Southeast. New England-based angel groups closed deals worth slightly more than deals in California in Q2. The sectors getting funding remain concentrated in Internet, healthcare and mobile, with 71% of completed Q2 deals and 79% of Q2 dollars in these categories.
The Halo Report is a nationwide survey of Angel Groups' investment activity produced by the Angel Resource Institute, Silicon Valley Bank and CB Insights. The Q2 2014 Halo Report finds angel group valuations continue a three-quarter climb and round sizes increased by $1 million for healthcare companies while dropping by $1 million for Internet companies. Round sizes overall dropped nearly 40% to $600K over the prior quarter when angel groups invested alone, but rose nearly 20% to $2 million when angels co-invested with other types of investors. Texas joined California and New England as the three most active regions for angel group deals.
2014 Report on Angel Investing Activity in CanadaMelissa Dodaro
Since 2010, the report has captured 712 investments, in 409 companies. This represents a remarkable $270 million injected into the Canadian entrepreneurial ecosystem, with over $180 million invested over the last two years.
Silicon Valley Bank’s Trends in Healthcare Investments and Exits report analyzes the fundraising, investment, M&A and IPO activity of private, venture-backed biopharma, medical device and diagnostic/tools companies. Report author Jon Norris also gives his annual forecast of what’s likely to happen in 2016.
Key insights from Silicon Valley Bank's Startup Outlook Report. SoCal startups are fueled by a flourishing ecosystem that includes a growing number of local equity capital sources from both venture capitalists and corporate investors. While their outlook is cautiously optimistic, they continue to hire.
What does 2017 hold for the Innovation Economy? In the latest State of the Markets report, SVB Analytics took a rear-view approach, identifying the factors that mattered most in 2016 and examining which trends and themes will play out in 2017.
2014 Year End StartUp Health Insights ReportStartUp Health
2014 was a record year for digital health with $6.5B invested, a 125% increase from the total amount invested in 2013. Our report provides a snapshot of the market’s top deals, subsectors, investors and more.
Download full report at http://startuphealth.com/insights/2014
StartUp Health Insights Digital Health Funding Rankings Q3 2015 ReportStartUp Health
Q3 2015 continues to demonstrate a trend towards digital health market maturity with an increase of investment dollars combined with larger, less frequent deals.
~ Benefits and insurance solutions remain at the top of the deals list for 2015, particularly as these businesses become more capital intensive. Genomics companies are also beginning to attract funding as the line between biotech and consumer health blurs.
~ While it’s no surprise that the Bay Area continues to bring in the most funding YTD, newer markets are also growing. With Chicago, Salt Lake City and South Florida each taking in over $125M, it’s clear that investment opportunities are everywhere.
~ Keeping with last year’s trend, seed and series A rounds comprise 64% of funding activity this quarter. Meanwhile, series B and C rounds are continuing to increase their share of the total 2015 deals, demonstrating the maturation of the market.
~ Investments relevant to the 50+ market have contributed to nearly half the funding in the last five years, with the number of deals as a percent of all digital health steadily increasing.
2016 is on track to be the biggest year yet for digital health funding. Q3 was significant with almost $2.4B in deals, nearly half of which were international. We continue to see the market expand globally, with several large deals taking place both in the US and overseas.
StartUp Health Insights Report - Digital Health Funding Data 2015 Q1StartUp Health
What happened in the beginning of 2015?
~Investors backed later stage digital health companies as the market matures
~Funding in breakout metro areas including San Diego and Denver grew significantly, but the Bay Area continues to lead with $390M
~Wellness startups increased in popularity to become the second most active subsector
~Close to 41% of all digital health funding YTD has 50+ relevance
Silicon Valley Bank’s annual healthcare M&A report, Trends in Healthcare Investments and Exits, examines the merger and acquisition and IPO activity of private, venture-backed bio-pharma and medical device companies.
The study found that healthcare IPOs tripled in 2013, leading to record potential IPO/big exit returns of $12.5 billion.
For a detailed analysis access the report at: http://www.svb.com/healthcare-report_2014/.
**Report updated on 8/4/2014
In our annual report on the healthcare industry, Silicon Valley Bank analyzes the fundraising, investment, M&A and IPO activity of private, venture-backed biopharma, medical device and diagnostic/tools companies.
In its mid-year report on the healthcare industry, Silicon Valley Bank analyzes the fundraising, investment, M&A and IPO activity of private, venture-backed biopharma, medical device and diagnostic/tools companies. Report author Jonathan Norris also provides his view of what's on the horizon for the second half of 2016.
Start up health Insights Digital Health Funding Rankings 2016 Mid Year RankingDexter Wee
Source : Startuphealth.com
Digital Health Funding Ranking 2016 Mid Year Report
Seed and Series A deals are 65 % of the funding rounds.
7600 startups around the world.
Angel Group Investing Heats Up: Q1 2014 Halo Report sdickey
The Angel Resource Institute (ARI), Silicon Valley Bank (SVB) and CB Insights released the Q1 2014 Halo Report today, a national survey of angel group investment activity. The report finds median round sizes increased to $980K per deal, and pre-money valuations rose to $2.7 million in the quarter. Investments in Internet-related companies jumped significantly, while dollars invested in mobile and healthcare companies dropped.
The Halo Report is a nationwide survey of Angel Groups' investment activity produced by the Angel Resource Institute, Silicon Valley Bank and CB Insights. The Q1 2013 Halo Report shows angel investment round sizes are trending up to a median of $680K per deal, pre-money valuations remain stable at $2.5 million and most angel investment happens in angel groups’ home states. US angel investment continues to be dispersed nationwide, and in the first quarter entrepreneurs in the Southwest region of the country received a slightly larger share of angel investment than startups in California, for the first time. The sectors getting funding remain concentrated in Internet, healthcare and mobile, with 72% of completed Q1 deals in these categories.
The 2013 Halo Report finds angel investment activity on the rise with more high-valuation deals closed in 2013 than in 2012. While median round sizes held steady at $600K per deal, they were at a three year high when angels co-invested with non-angels. The share of angel investment in Internet, healthcare and mobile startups continued to increase. Golden Seeds, Tech Coast Angels, and Houston Angel Network, which is new to the list, were the three most active angel groups in 2013. With a continued progression toward more even distribution of investments nationally, entrepreneurs throughout the country are likely to find it easier to access angel investors for critical early stage funding. The Halo Report, put together by the Angel Resource Institute, Silicon Valley Bank and CB Insights, includes aggregate analysis of investment activity by angel investors and angel investment groups, highlighting trends in round sizes, pre-money valuations, and industry investment preferences.
The Halo Report is a nationwide survey of Angel Groups' investment activity produced by the Angel Resource Institute, Silicon Valley Bank and CB Insights. The Q2 2013 Halo Report shows angel investment round sizes dipped up to a median of $590K per deal, pre-money valuations remain stable at $2.5 million and 74% of angel group deals are syndicated. When angel groups co-invest with other types of investors, the media round size goes up to $1.95M. US angel investment continues to be dispersed nationwide. For the first time, the report separates Texas, which has 11% of angel group deals in Q2, behind California, New England and the Southeast. New England-based angel groups closed deals worth slightly more than deals in California in Q2. The sectors getting funding remain concentrated in Internet, healthcare and mobile, with 71% of completed Q2 deals and 79% of Q2 dollars in these categories.
The Halo Report is a nationwide survey of Angel Groups' investment activity produced by the Angel Resource Institute, Silicon Valley Bank and CB Insights. The Q2 2014 Halo Report finds angel group valuations continue a three-quarter climb and round sizes increased by $1 million for healthcare companies while dropping by $1 million for Internet companies. Round sizes overall dropped nearly 40% to $600K over the prior quarter when angel groups invested alone, but rose nearly 20% to $2 million when angels co-invested with other types of investors. Texas joined California and New England as the three most active regions for angel group deals.
2014 Report on Angel Investing Activity in CanadaMelissa Dodaro
Since 2010, the report has captured 712 investments, in 409 companies. This represents a remarkable $270 million injected into the Canadian entrepreneurial ecosystem, with over $180 million invested over the last two years.
Silicon Valley Bank’s Trends in Healthcare Investments and Exits report analyzes the fundraising, investment, M&A and IPO activity of private, venture-backed biopharma, medical device and diagnostic/tools companies. Report author Jon Norris also gives his annual forecast of what’s likely to happen in 2016.
Key insights from Silicon Valley Bank's Startup Outlook Report. SoCal startups are fueled by a flourishing ecosystem that includes a growing number of local equity capital sources from both venture capitalists and corporate investors. While their outlook is cautiously optimistic, they continue to hire.
What does 2017 hold for the Innovation Economy? In the latest State of the Markets report, SVB Analytics took a rear-view approach, identifying the factors that mattered most in 2016 and examining which trends and themes will play out in 2017.
2014 Year End StartUp Health Insights ReportStartUp Health
2014 was a record year for digital health with $6.5B invested, a 125% increase from the total amount invested in 2013. Our report provides a snapshot of the market’s top deals, subsectors, investors and more.
Download full report at http://startuphealth.com/insights/2014
StartUp Health Insights Digital Health Funding Rankings Q3 2015 ReportStartUp Health
Q3 2015 continues to demonstrate a trend towards digital health market maturity with an increase of investment dollars combined with larger, less frequent deals.
~ Benefits and insurance solutions remain at the top of the deals list for 2015, particularly as these businesses become more capital intensive. Genomics companies are also beginning to attract funding as the line between biotech and consumer health blurs.
~ While it’s no surprise that the Bay Area continues to bring in the most funding YTD, newer markets are also growing. With Chicago, Salt Lake City and South Florida each taking in over $125M, it’s clear that investment opportunities are everywhere.
~ Keeping with last year’s trend, seed and series A rounds comprise 64% of funding activity this quarter. Meanwhile, series B and C rounds are continuing to increase their share of the total 2015 deals, demonstrating the maturation of the market.
~ Investments relevant to the 50+ market have contributed to nearly half the funding in the last five years, with the number of deals as a percent of all digital health steadily increasing.
2016 is on track to be the biggest year yet for digital health funding. Q3 was significant with almost $2.4B in deals, nearly half of which were international. We continue to see the market expand globally, with several large deals taking place both in the US and overseas.
StartUp Health Insights Report - Digital Health Funding Data 2015 Q1StartUp Health
What happened in the beginning of 2015?
~Investors backed later stage digital health companies as the market matures
~Funding in breakout metro areas including San Diego and Denver grew significantly, but the Bay Area continues to lead with $390M
~Wellness startups increased in popularity to become the second most active subsector
~Close to 41% of all digital health funding YTD has 50+ relevance
Silicon Valley Bank’s annual healthcare M&A report, Trends in Healthcare Investments and Exits, examines the merger and acquisition and IPO activity of private, venture-backed bio-pharma and medical device companies.
The study found that healthcare IPOs tripled in 2013, leading to record potential IPO/big exit returns of $12.5 billion.
For a detailed analysis access the report at: http://www.svb.com/healthcare-report_2014/.
**Report updated on 8/4/2014
In our annual report on the healthcare industry, Silicon Valley Bank analyzes the fundraising, investment, M&A and IPO activity of private, venture-backed biopharma, medical device and diagnostic/tools companies.
In its mid-year report on the healthcare industry, Silicon Valley Bank analyzes the fundraising, investment, M&A and IPO activity of private, venture-backed biopharma, medical device and diagnostic/tools companies. Report author Jonathan Norris also provides his view of what's on the horizon for the second half of 2016.
Start up health Insights Digital Health Funding Rankings 2016 Mid Year RankingDexter Wee
Source : Startuphealth.com
Digital Health Funding Ranking 2016 Mid Year Report
Seed and Series A deals are 65 % of the funding rounds.
7600 startups around the world.
Angel Group Investing Heats Up: Q1 2014 Halo Report sdickey
The Angel Resource Institute (ARI), Silicon Valley Bank (SVB) and CB Insights released the Q1 2014 Halo Report today, a national survey of angel group investment activity. The report finds median round sizes increased to $980K per deal, and pre-money valuations rose to $2.7 million in the quarter. Investments in Internet-related companies jumped significantly, while dollars invested in mobile and healthcare companies dropped.
The Halo Report research series highlights angel investment activity and trends in North America. It is a collaborative effort designed to raise awareness of early-stage investment activities by angel investors in groups and provides unique insights previously unavailable to entrepreneurs or early-stage investors.
A presentation delivered June 4, 2009 describing the impact of the economic crisis on venture and angel investing and common sense steps for fundraising for Medical Device Startups. No one is an expert now.
2013 Report on AngeI Investing Activity in Canada: Accelerating the Asset ClassIoana Stoica
The "2013 Report on Angel Investing Activity in Canada: Accelerating the Asset Class", the fourth of its kind, was released in partnership with the Government of Canada, KPMG Enterprise and BDC Venture Capital. The report captures 199 investments in 2013 totaling $89.0 million made through 29 Angel groups. Over 2,100 investors were represented, 40% in Western Canada, 5% in Eastern Canada, and 55% in Central Canada.
Venture Capital Growth in Southern California, Bree Nguyen: 2012 CSU Statewid...brzy56
This is research about Venture Capital Growth in Southern California from California State University Dominguez Hills. This research is the 2012 winner of the CSUDH Student Research Competition. It is also the winner of the 2012 CSU Statewide Student Research Competition.
Abstract:
Student Author: Bree Nguyen, CSUDH
Faculty Mentor: Dr. Tayyeb Shabbir, CSUDH
Department: Accounting and Finance
Venture Capital Growth in Southern California: Becoming Silicon Valley
Venture capital is an important driver of technology innovation and entrepreneurial undertakings in the United States and is responsible for funding high profile, revolutionary companies such as Google, Microsoft and Facebook. While venture capital is typically associated with Northern California’s Silicon Valley, in recent years, many other U.S. regions have emerged as centers for venture capital investments including Southern California.
The primary goal of my research is to conduct an analysis of venture capital growth in Southern California in terms of venture capital dollars invested in the region, its relation to Silicon Valley and the viability of creating a So Cal ”Silicon Valley”. Past efforts to “recreate” Silicon Valley have failed – these factors will be analyzed and I will argue that the young venture capital market in Southern California can succeed. My study analyzes the venture capital growth in Southern California by focusing on two of the most rapidly growing funded industries in the region, Internet and Energy, and identifying regional and industry specific determinants of growth. The results reveal that there are determinants of growth that are unique to Southern California and unique to its industries. These determinants have strong correlations when analyzed together at a regional-industry level rather than individually. This study illustrates a model of venture capital growth unique to Southern California’s Internet and Energy industries to offer a different view than by using Silicon Valley as a model and a benchmark alone.
Scott Entrepreneur Express, October 14, 2010 PresentationSandy Ratliff
FREE workshop geared towards small business owners as well as those who are thinking about becoming entrepreneurs. Accessing resources is crucial for a small business to start or grow. But in these challenging economic times finding financing, new customers/markets and accessing help within state and federal government can be difficult.
The Virginia Department of Business Assistance has partnered with Scott County Economic Development, Scott County Chamber of Commerce, and Wachovia Bank to offer a workshop designed to provide insight into areas of business ownership that often go overlooked and help connect you to FREE resources available to small business.
If you have questions or require additional information, contact the Scott County Chamber of Commerce at 54276-386-2525.
Scott County is partnered with Sandy Ratliff with the Virginia Department of Business Assistance to conduct this workshop.
Chapter 2.2: Angel Networks: Frequently Asked Questions? VC Experts, Inc.
What is an angel investor? How much do they invest and in how many businesses? What kind of companies do angels invest in? How do angels help small businesses? Let us answer these questions and more in this insightful report on all-things "angel investment."
An evidence-based, 130+ slide presentation looking at the top real estate portals from around the world. There's new content, updated data, and plenty of new analysis and insights on the global real estate portal space.
DealMarket Digest Issue86 - 8th March 2013Urs Haeusler
SEE WHAT’S NEW AND NOTEWORTHY IN PRIVATE EQUITY THIS WEEK /// ISSUE 86 - 8th March 2013:
- Mutual Attraction: Family Offices and PE Fundraisers
- Survey Finds Investor Appetite for Big Buyout Funds
- PE Investors Eye Ista for $3.9 bn
- Doubts Linger About IPO as Exit in Europe
- Investments on the Rise in Latin America
- Quote of the Week: Sales Booster
StartUp Health Insights 2016 Midyear ReportStartUp Health
The digital health market broke historic records for midyear funding as investment reached $3.9B. Seed and Series A financing rounds are substantially equal in number, demonstrating a still thriving early-stage innovation landscape. Most funding dollars are being funneled to Series A rounds, creating opportunities for companies with validated solutions.
This document brings together a set
of latest data points and publicly
available information relevant for
Financial Services Industry. We are
very excited to share this content and
believe that readers will benefit from
this periodic publication immensely.
2. Table of Contents
Q3 2013 Highlights p. 3
National Trends p. 5
Most Active Angels p.11
Regional Trends p. 12
Sector Trends p. 17
About the Halo Report p. 20
2
4. Angel Group Update: Halo Report Q3 2013
Highlights
•Angel Round Size Still Down from
Peak in Early 2013 p.6
Median Round Size Trending Up to $2M
when Angels Co-Invest p.7
•New England Retains Share of
Dollars, New York Bounces Back
p.16
•Great Lakes Shows Biggest Gains in
Share of Deals, Biggest Drop in Share of
Dollars p.13-16
•Healthcare Round Size Jumps
Year Over Year p.8
• Mobile Grabs Greater Share of
Deals and Dollars p.18-19
10 Most Active Angel Groups
Total Deals Q3
•Alliance of Angels
•Golden Seeds
•Houston Angel Network
•Hyde Park Angels
•Investors’ Circle
•Launchpad Venture Group
•Life Science Angels
•Sand Hill Angels
•Tech Coast Angels
•Wisconsin Investment Partners
*Groups new to the top ten are denoted by
4
6. Median Round Size Still Down from Peak in Early 2013
$M
$970K
$1.00
$900K
$870K
$680K
$700K
$840K
$770K
$600K
$510K
$0.50
$520K
Q2 2013
Q3 2013
$0.00
Q3 2012
Q4 2012
Q1 2013
Median Round Size
Mean Round Size
*Angel rounds include angels & angel groups only
6
7. Round Size Trending up to $2M when Angel Groups Co-Invest
with Other Types of Investors
$M
$2.83
$3.00
$2.52
$2.50
$2.45
$2.84
$2.04
$2.00
$1.50
$1.50
$1.37
Q1 2013
$2.00
$1.40
Q4 2012
$1.90
$1.00
$0.50
$0.00
Q3 2012
Median Round Size
Q2 2013
Q3 2013
Mean Round Size
7
8. Healthcare Round Size Jumps Over 2012
Median Round Sizes for Angel Groups in Top Sectors
$M
$1.50
$1.50
$1.10
$935K
$1.00
$0.50
2012
YTD
2013
2012
$1.10
$1.00
$1.00
YTD
2013
2012
YTD
2013
$0.00
Healthcare
Internet
Mobile / Telecom
*For all deals involving angel groups, includes co-investors
8
9. Median Early Stage Pre-Money Valuation Steady at $2.5M
Rolling Year Q3 2013
$2.5M
$1.2M
Median
$3.0M
3rd Quartile
$6.4M
1st Quartile
$0.11M
*Including all rounds with angel groups before Series A
9
10. Angel Groups Invest Close to Home
74% of Deals Completed in Home State of Investor Group & Company
#
100%
90%
80%
83%
75%
84%
79%
82%
75%
72%
71%
80%
74%
70%
60%
50%
40%
Q3 2012
Q4 2012
Q1 2013
Q2 2013
Investor & Company in Same State
Investor & Company in Same Region
Q3 2013
10
11. 10 Most Active Angel Groups
Total Deals (Alpha Order)
Seattle, WA
NY, MA, CA
National Group
Sunnyvale, CA
Houston, TX
Chicago, IL
Boston, MA
Sunnyvale, CA
Southern CA
Madison, WI
*Groups new to the top ten are denoted by
11
13. Great Lakes Shows Largest Marketshare Increase
Share of Angel Group Deals by Region Q3 2013
Northwest
New York
8.9%
8.9%
Great Plains
Great Lakes
5.1%
12.2%
14.0%
California
20.1%
New
England
Mid-Atlantic
8.4%
Southwest
6.1%
Southeast
Texas
Texas
10.3%
11.0%
5.6%
13
14. Share of Angel Group Deals by Region
Q3 2012
Q2 2013
Q3 2013
11.3%
100%
8.8%
8.9%
New York
6.5%
10.4%
6.7%
5.1%
8.4%
Great Plains
5.6%
Mid-Atlantic
90%
80%
7.5%
70%
60%
50%
40%
8.1%
6.5%
7.0%
7.8%
10.9%
14.0%
11.9%
10.3%
12.9%
20%
0%
19.4%
Texas
6.1%
10.4%
17.2%
6.2%
5.7%
30%
10%
8.9%
13.5%
17.1%
Northwest
Southwest
12.2%
20.1%
Great Lakes
Southeast
New England
California
14
15. New England Retains Lead, New York Bounces Bank, Great Lakes Drops
Share of Angel Group Dollars by Region Q3 2013
Northwest
New York
7.5%
14.9%
Great Plains
Great Lakes
6.8%
25.3%
5.3%
California
19.0%
New
England
Mid-Atlantic
1.8%
Southwest
4.7%
Southeast
11.1%
Texas
3.5%
Texas
6.1%
15
16. Share of Angel Group Dollars by Region
100%
90%
Q3 2012
Q2 2013
12.1%
5.8%
4.7%
80%
70%
60%
50%
40%
30%
14.9%
2.4%
6.4%
5.0%
11.2%
9.6%
11.1%
Q3 2013
14.9%
9.6%
8.8%
6.0%
4.5%
4.3%
14.2%
6.8%
1.8%
3.5%
7.5%
4.7%
5.3%
New York
Great Plains
Mid-Atlantic
Texas
Northwest
11.1%
Southwest
10.0%
25.3%
18.4%
Great Lakes
Southeast
20%
10%
22.5%
New England
16.9%
19.0%
California
0%
16
21. What is the Halo Report™?
Angel Group Investment Trends: The Angel Resource Institute, Silicon Valley Bank and
CB Insights set out to raise awareness of early stage investment activities by angel
investment groups. The Halo Report is the result. The research series highlights angel
investment activity and trends in North America and provides much sought after data that
has not been previously available to entrepreneurs or early stage investors.
The Halo Report includes aggregate analysis of investment activity by angels and angel
groups and highlights trends in round sizes, location and industry preferences. The data is
collected via survey and aggregation of public data using CB Insights innovative data
analyses.
Get Involved: Angel groups and individual angel investors interested in including their data
in the Halo Report should contact JJ Knight, Halo Report Coordinator: 910-452-7444 and
jjknight@angelresource.org.
21
22. Understanding the Data:
Special Round Types and Industry Sectors
The Halo Report™ provides analysis and trends on US angel and angel group activity.
Angels and angel groups invest alone, together, and with many other types of investors.
Unless otherwise noted the Halo Report data includes all rounds that have at least one
angel group participating and may include other types of investors in those rounds.
This report discusses angel group investment trends for Q3 2013, which represents a
total of 278 deals and $445M in total rounds including co-investors.
A few charts report on an “Angel Round,” a special classification of investment when
angel groups invest alone or just with other angels and angel groups.
Unless otherwise noted, values of less than <1% are included, but are not labeled or
noted as a change in activity.
Halo Report Industry Sectors
Internet
Mobile & Telecom
Software
Energy & Utilities
Computer Hardware & Services
Healthcare
Industrial
Automotive & Transportation
Business Products & Services
Consumer Products & Services
Electronics
Environmental Services &
Equipment
Financial Services
Food & Beverages
Leisure
Media
Metals & Mining
Retail
Risk & Security
22
23. Halo Report Contacts
Angel Resource Institute
JJ Knight, jjknight@angelresource.org
The Angel Resource Institute (ARI) is a charitable organization devoted to education, mentoring and research in the
field of angel investing, a growing driver of our entrepreneurial economy. ARI was founded by the Ewing Marion
Kauffman Foundation. The programs of ARI include educational workshops and seminars, research projects and
reports, and information about angel investing for the general public. ARI is affiliated with the Angel Capital
Association, the professional association of angel groups in North America. More information is available at
www.angelresourceinstitute.org.
Silicon Valley Bank
Carrie Walsh, cwalsh@svb.com
Silicon Valley Bank is the premier bank for technology, life science, cleantech, venture capital, private equity and
premium wine businesses. SVB provides industry knowledge and connections, financing, treasury management,
corporate investment and international banking services to its clients worldwide through 28 U.S. offices and six
international operations. (Nasdaq: SIVB) www.svb.com.
Silicon Valley Bank is the California bank subsidiary and the commercial banking operation of SVB Financial Group.
Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve System. SVB
Financial Group is also a member of the Federal Reserve System.
CB Insights
Anand Sanwal, asanwal@cbinsights.com
CB Insights is a National Science Foundation-backed data-as-a-service firm that collects information on private
companies and their investors and acquirers. CB Insights data and technology is used by firms to make better
marketing, procurement, lending, acquisition and equity investment decisions and to gather data-driven market and
competitive intelligence. The firm's data is regularly cited by leading media publications including the New York Times,
Forbes, BusinessWeek and Fast Company among others. For more information, visit http://www.cbinsights.com.
23